Australia Jobs Growth Strengthens Rate Hike Outlook 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
U.S. stocks closed lower Monday as Wall Street opened the final month of the year with caution ahead of an expected interest rate cut from the Federal Reserve. The S&P 500 dipped 0.4%, the Nasdaq Composite fell 0.4%, and the Dow Jones Industrial Average dropped 427 points, or 0.9%, despite strong gains across all three major indexes last week. November ended on a positive note for the S&P 500 and Dow, while the Nasdaq slipped 1.51%, reflecting ongoing concerns about elevated tech valuations and heavy spending on artificial intelligence initiatives.
Market sentiment has been largely driven by rising expectations that the Fed will deliver a 0.25% rate cut at its upcoming December 9–10 meeting. The probability of such a move has surged to roughly 88%, up sharply from around 45% just over a week ago. Recent dovish remarks from Federal Reserve officials have strengthened these projections, though uncertainty persists due to limited new economic data following the federal government shutdown.
Investors are also preparing for a wave of U.S. economic releases this week, including key reports on manufacturing, services, consumer sentiment, and private payrolls. Retail stocks may also gain attention after strong online spending during Black Friday.
Meanwhile, focus is intensifying on President Donald Trump’s upcoming appointment for the next Federal Reserve chair. Names reportedly on the shortlist include Kevin Hassett, Kevin Warsh, and current Fed Governor Christopher Waller, with Hassett considered the leading candidate. A leadership shift could significantly influence monetary policy, especially given Trump’s push for rapid rate cuts, which could boost equities, particularly in growth and retail sectors.
Crypto-related stocks faced steep declines as Bitcoin fell 7%. MicroStrategy dropped more than 3% after lowering guidance and raising capital to strengthen its cash reserves, sparking concerns over potential Bitcoin asset sales. Other crypto stocks, including Riot Platforms, Marathon Digital, and Coinbase, also traded lower amid cooling network activity and unstable ETF inflows.
